How to drive organic growth across your SME law firm
Joanna Gaudoin, Managing Director of Inside Out Image, shares how law firms can accelerate their business development skills to drive organic growth.
I recently joined Amy Bruce, marketing director at Osprey Approach and host of the Empowering Law Firm Leaders podcast, for episode 14, which focused on how law firms can build effective business development strategies, overcome common sales challenges, and create a culture that supports growth.
In this conversation, we covered:
Essential characteristics of successful law firm leaders
Best practices for effective business development
Skills to network effectively
How to leverage existing relationships
Maintaining a business development culture
You can listen to the full interview (Episode 14) or read a summary below.
Top essential characteristics for being a successful law firm leader
Vision for the firm: Who do we want to be? Who do we want to serve in the market? How are we going to stand out? It’s important to have a clear vision and strategy that is communicated effectively to the entire firm.
Recruiting and developing the right people: Good lawyers are an obvious point. But actually, there are a lot of good lawyers out there. Make sure you're recruiting the lawyers that are right to help you deliver your vision. Consider hiring individuals who not only have the necessary technical skills but also align with the firm's culture and values. Investing in their development is crucial for their growth and the firm's success.
Passion for client service: Be absolutely passionate about your focus on your clients. If you don't have clients who buy into you, are loyal to you, refer other people, and feel really happy about your service, you haven't got a great basis for a business. As the firm grows, it is essential to ensure that the quality of client service remains consistent.
Five best practices for effective business development
There are several common challenges that law firms face in business development, including knowing where to start and how to allocate time and resources effectively. The danger is you just start doing a bit of this, a bit of that, and don't really give it a proper go as in thought through and give it enough time.
1. Establish a clear vision and strategy
Developing a business development strategy is very important, and it should be clearly and effectively communicated to all firm members to ensure alignment and focus.
2. Engage all lawyers in business development
One significant challenge is getting more lawyers involved in business development activities. It’s vital for the firm's growth that you have a broader base of lawyers engaged in these efforts, rather than what I see a lot, which is quite a small subset - usually partners.
You need more lawyers in your firm who recognise why they need to contribute. To help facilitate this, develop specific activity plans for business development that outline the roles and responsibilities of each lawyer.
3. Foster collaboration between marketing and fee earners
Effective collaboration between the marketing team and fee earners is essential for successful business development. Marketing can support lawyers, and lawyers can feed back into marketing what they're seeing out in the market. Ensure that marketing efforts are aligned with the firm's overall strategy and in support of lawyers’ business development activities.
Consider establishing a feedback loop where lawyers can share insights from their interactions with clients and potential clients with the marketing team.
4. Maintain accountability and momentum
Maintaining momentum in business development activities is crucial for long-term success. Successful strategies include accountability at the departmental level through regular reviews of business development activities and their outcomes and regular reviews of the business development strategy to update the team on progress and new initiatives.
5. Utilise a variety of business development activities
Business development activity isn’t a one-size-fits-all and might include a blend of networking, content marketing and ways to foster existing client relationships for the long term.
Skills needed to network effectively
Know Your Goals: Before attending any networking event, it's important to have clear objectives. Think about where you are going, and why are you going there.
First impressions: The way you present yourself can significantly influence how others perceive you. Dressing appropriately, maintaining good posture, and displaying confident body language are all important.
Human Connection: Establishing a personal connection before diving into work-related topics is crucial. Engage in small talk and find common ground to build a rapport.
Active listening: The key skill is listening and asking great questions. Show genuine interest in what others are saying, ask insightful questions, and listen actively to understand their needs and interests.
Articulate your value: Be prepared to clearly and concisely explain what you do and how you can help. Provide a brief, compelling description of your services and how they benefit clients.
Follow-up: Networking doesn't end when the event does. The big, important thing is follow up – perhaps on LinkedIn, via a follow-up email, or arranging a coffee meeting to continue the conversation.
Read the room: Being able to adapt your approach based on the situation is key. Understanding social cues and adjusting your behaviour accordingly can help you navigate networking events more effectively.
Driving growth through strategic business development
Law firms must adopt business development growth strategies to thrive in the modern legal landscape. By building a clear vision and strategy, recruiting and developing the right people, focusing on client service, and overcoming common challenges, firms can drive organic growth and achieve long-term success.
Watch the full interview now to discover more advice and guidance on driving organic growth. You’ll also hear my exclusive advice on leveraging existing client relationships to boost new business.